Off-season activity in NBA just starting to heat up following draft

The draft is done and this most unorthodox, rapid-fire NBA off-season is nowhere close to slowing down.

Negotiations between teams and free agents can officially start at 6 p.m. ET Friday (don't kid yourself that talks haven't already begun even though the league technically forbids them) and at 12:01 a.m., Sunday deals can be formalized and rubber-stamped.

While this isn't a loaded class by any means, NBA free agency is never boring. Stuff is going to happen — and the trade frenzy has been underway since the floodgates opened on Monday, with no signs of abating.

All of Wednesday's draft night manoeuvring gave way to a torrent of transactions Thursday.

Reeling from the news that superstar guard Klay Thompson will miss the entire season after tearing an Achilles tendon, Golden State quickly dealt for Kelly Oubre Jr., who had a breakout season with Phoenix before being briefly moved to Oklahoma City.

Gordon Hayward opted out of his US$34 million contract with Boston, likely ending his hardluck tenure with the Celtics. The sign-and-trade between Sacramento and Milwaukee that was to send solid forward Bogdan Bogdanovic to Team Giannis apparently fell through. And the New York Knicks declined options on a number of veterans, opening up close to $40 million in salary cap space, second only to the Atlanta Hawks

Those were the biggest moves and set the Knicks up to be key players for top unrestricted free agents such as Toronto's Fred VanVleet and Serge Ibaka, Hayward, Danilo Gallinari, Joe Harris, Jerami Grant, Montrezl Harrell and Davis Bertans. Atlanta and Detroit are also expected to be aggressive.

Though the Knicks could ruin their plans, the Raptors have been buoyed in recent days by moves in Phoenix and Detroit — once considered major threats to go after VanVleet — that appear to have taken them out of that conversation. The organization has spoken as if it expects to have its starting guard back, though anything is possible and VanVleet would be a favourite of hardnosed new Knicks coach Tom Thibodeau. New York added a standout big man and an undersized guard in the draft, as well as ex-Raptors F/C Ed Davis, one of the most revered team players in the league, a day later.

The Raptors also hope to retain Ibaka and starting centre Marc Gasol's future remains unclear. Gasol is also unrestricted. The team gave third-string big Chris Boucher a qualifying offer, meaning they can match any offers to the restricted free agent.

In smaller news, reports had Houston's Austin Rivers opting out of his contract and Phoenix letting Frank Kaminsky go.